Prosecutors said Charles Howard, who was previously convicted in federal court in Massachusetts and New Hampshire in unrelated cases, didn't disclose that he was subject to a lifetime bar from the securities industry.

He awaits sentencing on a recommended seven-to-20-year sentence.

Carolyn Howard pleaded guilty to one misdemeanor count of acting as an unlicensed investment adviser and was sentenced to a year in jail, all deferred, conditioned on her cooperation with the state's ongoing investigation.